The market is open today. Stocks are up after a strong jobs report in June.
US stocks were higher on Friday after a stronger than expected US jobs report.
Shortly after opening, the
Dow Jones Industrial Average
is up 55 points, or 0.2%. the
was up 0.3%, while the
increased by 0.4%. The 10-year Treasury yield fell 0.031 percentage point to 1.451%.
The American economy 850,000 jobs added in June, beating the forecast of 675,000, while unemployment rose to 5.9%, from 5.8% in May. Average hourly earnings rose only 0.3%, slower than the 0.4% forecast by economists, suggesting that labor pressures may ease. For now, this combination of stronger job growth and slower inflation seems to have pushed investors to take the risk.
In Asia, Tokyo
increased by 0.3%, while that of Hong Kong
slipped 1.8%. the
fell 1.95%. the
in London rose 0.2% as the pan-European index
was 0.3% higher. the
in Paris is up 0.1% and that of Frankfurt
increased by 0.4%.
Movements in the share price of
diverged considerably after the two Finnish industrial companies have declared that they have agreed to merge. Shares of Neles, which offers flow control products such as valves used in the oil and gas refining process, rose 7%, while shares of Valmet, which provides technology and systems for automation to industry, fell 6%.
Dutch semiconductor companies boosted the dynamism of European equities, with
equities up 1% and equities in
up 1.5%. ASML, which supplies critical equipment to chipmakers, received a boost as
said it would start using its machines from 2024. Another industry supplier, ASM, said orders in the second quarter of the year were much higher than expected, and are expected to exceed $ 500 million. euros ($ 591 million).
action fell nearly 1%, after French prosecutors opened an investigation into the retail giant, owner of Zara, for alleged cover-up of “crimes against humanity” linked to forced labor by the Muslim minority Uyghur in the Xinjiang region of China, Reuters reported. Prosecutors are also reportedly investigating three other retailers: Uniqlo France, SMCP and Skechers. Japan’s actions
which owns Uniqlo, fell almost 1%.
(ticker: TSLA) the stock rose 1.4% after reporting 201,250 deliveries in the second quarter. This was slightly lower than Bloomberg’s estimate for 204,160.
(SPCE) jumped 18.3% after Richard Branson said he would go to space before
by (AMZN) Jeff Bezos.
Didi Global (DIDI) fell 7.2% after China revealed a cybersecurity review of the recently listed company.
PNC Financial Services
(PNC) increased 0.4% after being upgraded to Surperformer from Underperform at Wolfe Research.
(NGLOY) gained 3.6% after being upgraded to Outperform from Market Perform in Bernstein.
Write to Ben Levisohn at [email protected]